Economic Expansion Continues, But Slowly
> Industry News
November 11 - The economy continued to expand in October, but growth remains below the historical average, according to the latest National Activity Index compiled by the Chicago Federal Reserve Bank
October's index of -0.28 was up from -0.52 in September. A zero value indicates that the national economy is expanding at its historical trend rate of growth.
The index's three-month moving average, considered more accurate than the monthly figure, decreased to -0.46 from -0.33 in the previous month.
Improvement in the monthly index was led by production and employment related indicators. Consumption and housing lagged, pulling the index lower.
The index also, "suggests subdued inflationary pressure from economic activity over the coming year," the reports states.
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